Commerce and Industry Minister Piyush Goyal on Sunday said that India and Israel were exploring a two-stage implementation of their proposed Free Trade Agreement (FTA) to deliver quicker gains to businesses in both countries.

His remarks on Sunday came days after the two sides signed the terms of reference (ToR) to formally launch negotiations for the long-pending agreement.

The ToR covers a wide sweep of priorities — market access through reduction of tariff and non-tariff barriers, smoother customs procedures, stronger investment facilitation, cooperation in innovation and technology transfer, and liberalised norms for services trade.

“We are considering doing this in two tranches. A decision will be taken when the talks begin. Both ministers are keen to finalise the first phase early

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